U.K.'s Vince Cable says housing overheating

The economy is still on life support and could be further endangered by an overheating housing market, U.K. Business Secretary Vince Cable has warned, according to U.K. newspaper The Times Monday.

He cautioned that there was a need to be "realistic" about the strength of the recovery, emphasizing that underlying problems still posed a threat, The Times said.

"We are clearly now getting a recovery . . . but we've got to be realistic. The patient is still on a life-support system with these ultra-low interest rates and very unorthodox monetary policy," he said. "We have this potentially destabilizing impact of the housing boom, and we have other issues like currency moving into overvaluation territory, making it more difficult to rebalance."

Intraday Data provided by SIX Financial Information and subject to terms of use. Historical and current end-of-day data provided by SIX Financial Information. All quotes are in local exchange time. Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only. Intraday data delayed at least 15 minutes or per exchange requirements.